📈 GBP/USD – Elliott Wave Insight (Daily)

🔍 Market Structure

GBP/USD is trading within a rising channel, and the recent decline completed a corrective ABC pattern, finding strong support near the lower channel boundary and key Fibonacci levels (0.618–0.786).

🌊 Elliott Wave Outlook

• Wave C appears complete, signaling the end of correction

• A new impulsive wave is developing from the recent low

• Price action suggests Wave (3) may be forming, typically the strongest phase of an Elliott Wave cycle

🎯 Key Levels

• Support: Wave B zone (0.5–0.618 Fib)

• Invalidation: Daily close below corrective low

• Targets: Prior highs and upper channel resistance (Wave 5 projection)

✅ Bias

As long as price holds above support, the bullish Elliott Wave scenario remains valid, with upside potential toward higher highs.